Great interview re TST's software and AI potential9 Jun 2020 15:13
A really interesting interview with the Logistics division's Sales Director - particularly the AI aspects, which could really grab investors' attention once they latch on to the Vendor Managed Inventory product which is "about to launch":
Https://www.touchstar.co.uk/blog/thefutureofbulklogistics
Extracts:
“Touchstar’s logistics solutions are never ‘finished’, we’re always looking for ways to refine things and improve operational efficiency for our clients. On the fuel side, we’re just about to launch VMI – Vendor Managed Inventory. This will enable our fuel clients to keep their customers’ stocks topped up to the perfect level; between min and max stock so that they won’t run out or hold too much product. We’ve developed an artificially intelligent (AI) algorithm that reads a fuel tank’s gauges every hour, building a picture of sales of a particular product, say super-unleaded, over a 24-hour period, a weekly period, a monthly period and so on.
The VMI algorithm works out average sales from each tank over time, and then triggers an automatic replenishment order when their customer’s super-unleaded stock reaches a set min level, say three days’ worth. What’s more, the system takes into account when the next super-unleaded drop will be made - it could be two days away, for example - what the levels of each tank will be at that time, and the best way to balance the stock across the customer’s super-unleaded tanks for the most efficient delivery. It’s a really exciting new capability for Touchstar, and one that should allow our fuel logistics customers to make and pass on real time and cost savings.
VMI works conversely too, so for waste management companies who need to get rid of product, rather than top it up.”
"Eventually, with AI behind it, our software will be able to monitor real-time shift progress and automatically move jobs around between drivers if one is experiencing problems or delays, and another is working through drops quicker than expected, and send them both updated digital manifests. It’s still a way off, but I think one day we’ll see AI transform every part of the distribution chain, from the point of drivers accepting their daily workload, to monitoring journeys, deliveries, time estimations, and automatically updating customers of a driver’s ETA. Whatever happens, Touchstar will continue to provide market-leading bulk logistics solutions that streamline operations and boost efficiency for our clients.”
Touchstar logistics optimisation systems have been developed to excel in the complex and demanding fuel market. We’ve applied everything we’ve learned about the oil and gas tanker sector on the ground and in the field, making our management solutions a formidable digital infrastructure for any bulk logistics supplier."
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